Crypto trader Cold Blooded Shiller has outlined a bullish outlook for Bitcoin (CRYPTO: BTC), pointing to technical analysis and market psychology as key factors for a potential breakout.
What Happened: In a Friday update on his YouTube channel, the trader emphasized the significance of Bitcoin’s recent price action, particularly the formation of a higher high and higher low pattern on higher timeframes. He noted, “This is the first time we’re seeing an uptrending structure on the higher time frame,” referencing Bitcoin’s ongoing challenge of the $67,000-$68,000 resistance zone.
While not guaranteeing an immediate breakout, the trader suggests that if Bitcoin surpasses the $70,000 level, it could rapidly …
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